Tag Archives: federal stimulus

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Tax Act

Do you Understand the Tax Changes in the Recovery & Reinvestment Act?

The Federal Stimulus Bill has made many changes to the way taxes need to be filed for everyday people like you. If you were or are unemployed than you definitely can’t afford to pay taxes on unemployment benefits that might not be due and you definitely cant afford to hire a tax professional to file your taxes. What you can do is use the quick and easy, proven TurboTax program that is updated to include and apply all changes made under the Federal Stimulus Bill that may apply … Read more at 2008 Taxes.

Federal Stimulus Bill Provides Tax Benefits

Federal Stimulus Bill Provides Tax Benefits

The American Recovery and Reinvestment Act also known as the Federal Stimulus Bill provides a number of new benefits for tax payers and the unemployed. Included in the new federal law is an AMT patch, First Time Home Buyer Credit, and a Car Buyer Tax Deduction.

AMT Patch

The Alternative Minimum Tax continues to affect more and more Americans as salaries gradually increase over time and the tax law does not adjust or index to inflation. In the recently enacted  stimulus bill, the federal government has patched the AMT law to keep levels similar … Read more at 2008 Taxes.